JoS. A. Bank to Open Factory Outlet Stores
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Men's clothier Jos. A. Bank said Monday that it will test out factory outlet stores, which sell goods at lower prices, as it looks for new revenue streams. The men's retail chain plans to open five stores by the end of the fiscal year. If the stores perform well, the company said it would open more. Company executives believe there might be a market for as many as 50 to 75 factory outlet stores in the U.S.